Selling Process PDF

SELLING PROCESS The selling process is a comprehensive sequence of steps designed to guide potential customers through their decision-making journey, ultimately leading to a purchase and beyond. Here's a detailed explanation covering each stage, along with examples: 1. Suspecting  Definitio...

SELLING PROCESS The selling process is a comprehensive sequence of steps designed to guide potential customers through their decision-making journey, ultimately leading to a purchase and beyond. Here's a detailed explanation covering each stage, along with examples: 1. Suspecting  Definition: Identifying a broad group of potential customers (suspects) who might have a need for your product or service.  Example: A company that sells ergonomic office furniture identifies a large pool of suspects by targeting businesses in regions with a high density of office spaces. 2. Prospecting & Qualifying  Definition: Narrowing down the list of suspects to those who are most likely to buy (prospects) and assessing their potential based on factors like need, budget, and authority.  Example: The office furniture company filters their suspect list by reaching out to businesses and determining which ones are currently expanding their offices or have a high rate of employee turnover, indicating a need for new furniture. They focus on those with the budget and decision-making power. 3. Pre-Approach  Definition: Gathering information and planning the first interaction with the prospect. This involves understanding the prospect’s needs, preferences, and potential objections.  Example: The salesperson at the office furniture company researches a prospect’s current office layout, recent company growth, and any previous interactions they’ve had with the company to tailor their approach effectively. 4. Approach (Sales Demo & Presentation)  Definition: The initial interaction where the salesperson introduces themselves, builds rapport, and presents the product or service to the prospect.  Example: The salesperson schedules a meeting with the prospect and presents a range of ergonomic chairs and desks, demonstrating how they can improve employee comfort and productivity. 5. Negotiation (Handling Objections)  Definition: Addressing any concerns, hesitations, or objections the prospect might have about the product, service, or terms of the sale. This also involves negotiating terms to reach a mutually beneficial agreement.  Example: The prospect may express concern about the cost of the furniture. The salesperson discusses possible discounts for bulk purchases, financing options, or the long-term benefits of investing in ergonomic furniture, such as reduced employee absenteeism. 6. Closing  Definition: Finalizing the sale by securing the prospect’s commitment to purchase. This involves confirming all details and getting the prospect to agree to move forward.  Example: After addressing the prospect’s concerns and negotiating the terms, the salesperson asks for the order by saying, “Shall we go ahead and finalize the order so we can schedule the delivery and installation for next week?” 7. Order  Definition: Completing the transaction, processing the order, and ensuring all details are correctly recorded for fulfillment.  Example: The salesperson prepares the necessary paperwork, confirms the quantity and specifications of the furniture, and processes the order for delivery and installation at the prospect’s office. 8. Follow-Up  Definition: Checking in with the customer after the sale to ensure satisfaction, address any post-purchase issues, and nurture the relationship for future business or referrals.  Example: After the furniture has been delivered and set up, the salesperson follows up with a phone call or visit to ensure everything meets the customer’s expectations and to address any questions or concerns. They might also offer to provide additional services, such as ongoing maintenance or future upgrades. Example Scenario: A Cloud Computing Service Provider 1. Suspecting: The cloud service provider identifies a wide range of businesses that might benefit from cloud solutions, such as those in technology, finance, and healthcare. 2. Prospecting & Qualifying: The company narrows down its list to businesses that are currently expanding their IT infrastructure. They qualify prospects by determining their current IT setup, budget, and readiness to move to the cloud. 3. Pre-Approach: The salesperson researches the prospect’s existing IT challenges, their growth plans, and any past interactions with cloud providers to tailor their presentation. 4. Approach (Sales Demo & Presentation): The salesperson schedules a meeting with the prospect’s IT team, where they demonstrate the cloud service’s scalability, security features, and cost-effectiveness, showing how it can solve the company’s specific IT challenges. 5. Negotiation (Handling Objections): The prospect may be concerned about data security in the cloud. The salesperson addresses these concerns by explaining the provider’s robust security protocols and compliance with industry regulations. They also discuss flexible pricing models to align with the prospect’s budget. 6. Closing: The salesperson asks if the prospect is ready to sign the contract and begin the migration process, highlighting the advantages of starting the implementation before the next fiscal quarter.  7. Order: The salesperson finalizes the contract, reviews the service agreement with the customer, and schedules the onboarding process for the cloud service. 8. Follow-Up: After the service is up and running, the salesperson follows up to ensure the system is performing as expected and provides additional support or training as needed. They may also explore opportunities for upselling or gathering referrals. This detailed selling process ensures that each step is carefully managed to maximize the chances of converting prospects into satisfied customers while building long-term relationships.